Global Assets Advisory LLC Sells 32,169 Shares of Palantir Technologies Inc. $PLTR

Key Points

• Global Assets Advisory LLC sold 32,169 shares of Palantir Technologies, reducing its stake by 65.5%, resulting in ownership of 16,934 shares valued at approximately $2.2 million.
• Palantir reported a 48% increase in quarterly revenue year-over-year, achieving $1 billion, and exceeding analysts' estimates for earnings and revenue.
• Analysts have set new price targets for Palantir, with Bank of America raising its target from $180.00 to $215.00 and the consensus rating currently being a "Hold."

Global Assets Advisory LLC lessened its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 65.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,934 shares of the company's stock after selling 32,169 shares during the quarter. Palantir Technologies comprises about 0.9% of Global Assets Advisory LLC's investment portfolio, making the stock its 26th biggest position. Global Assets Advisory LLC's holdings in Palantir Technologies were worth $2,213,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of PLTR. Kingstone Capital Partners Texas LLC bought a new stake in Palantir Technologies during the 2nd quarter valued at approximately $2,543,888,000. Nuveen LLC bought a new position in Palantir Technologies in the 1st quarter worth approximately $520,232,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Palantir Technologies by 55.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 13,346,061 shares of the company's stock worth $1,126,408,000 after buying an additional 4,748,513 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Palantir Technologies by 38.5% during the first quarter. Goldman Sachs Group Inc. now owns 15,180,154 shares of the company's stock worth $1,281,205,000 after buying an additional 4,221,392 shares during the last quarter. Finally, Amundi boosted its position in shares of Palantir Technologies by 56.1% in the first quarter. Amundi now owns 10,620,301 shares of the company's stock valued at $887,857,000 after acquiring an additional 3,815,386 shares during the period. 45.65% of the stock is currently owned by institutional investors.

Palantir Technologies Stock Performance

Shares of PLTR opened at $173.07 on Monday. The firm has a market capitalization of $410.58 billion, a price-to-earnings ratio of 576.92, a PEG ratio of 9.66 and a beta of 2.60. The business's fifty day moving average price is $168.90 and its two-hundred day moving average price is $137.33. Palantir Technologies Inc. has a 52 week low of $38.78 and a 52 week high of $190.00.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its earnings results on Monday, August 4th. The company reported $0.16 earnings per share for the quarter, topping analysts' consensus estimates of $0.14 by $0.02. The company had revenue of $1 billion during the quarter, compared to the consensus estimate of $939.29 million. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%.The firm's quarterly revenue was up 48.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.09 earnings per share. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, research analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Insider Buying and Selling

In other Palantir Technologies news, insider Alexander C. Karp sold 222,878 shares of the firm's stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $151.37, for a total value of $33,737,042.86. Following the transaction, the insider directly owned 6,432,258 shares of the company's stock, valued at approximately $973,650,893.46. This trade represents a 3.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David A. Glazer sold 81,000 shares of Palantir Technologies stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $154.47, for a total transaction of $12,512,070.00. Following the sale, the insider directly owned 431,169 shares of the company's stock, valued at $66,602,675.43. This represents a 15.82% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,591,085 shares of company stock worth $244,676,722. 12.93% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on PLTR. Bank of America boosted their price target on Palantir Technologies from $180.00 to $215.00 and gave the company a "buy" rating in a research note on Tuesday, September 23rd. DA Davidson set a $170.00 target price on Palantir Technologies and gave the company a "neutral" rating in a research note on Tuesday, August 5th. Citigroup reaffirmed a "neutral" rating and issued a $177.00 target price (up from $158.00) on shares of Palantir Technologies in a research report on Tuesday, August 5th. Deutsche Bank Aktiengesellschaft raised shares of Palantir Technologies from a "sell" rating to a "hold" rating and boosted their price target for the company from $80.00 to $160.00 in a report on Tuesday, August 5th. Finally, Loop Capital increased their price objective on shares of Palantir Technologies from $178.00 to $180.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. Five equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $140.22.

Palantir Technologies Company Profile

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.

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